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MKT F24 > #5 Consumer Decision Process > Flashcards

#5 Consumer Decision Process Flashcards

1
Q

CDP

A

Consumer Decision Process

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2
Q

5 CDP steps

A
  1. need recognition
  2. search 4 info
  3. evaluate alternatives
  4. purchase consumption
  5. post- purchase
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3
Q
  1. Need recognition
A

consumers recognize an unsatisfied need

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4
Q

Consumer perceive…

A

a GAP of how I am, to ideal state

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5
Q

1. Need recognition

Perceptions can come… (4)

A
  1. self-generated
  2. stimuli-prompted
  3. funtional needs
  4. psychological needs
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6
Q

1. Need recognition

Self-generated

A

based on personal experiences or self-reflection

new caminadora pq wants to be fit

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7
Q

1. Need recognition

Stimuli-prompted

A

external factors like advertisement, reccomendations and commercials

ver a alguien con el nuevo iphone

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8
Q

1. Need recognition

Functional Needs

A

practical & tangible needs related 2 product’s performance

new refri pq el viejo ya no funciona

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9
Q

1. Need recognition

Psychological Needs

A

related to emotional/ social desires

chocolate @ tas triste
luxury bags 4 status

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10
Q

2 Information Search

A

consumer begins searching 4 info 2 help adress their need

2 types: internal/external search

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11
Q

2 Information Search

Internal Search

A

recalling past experiences w/products or brands

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12
Q

2 Information Search

External Search

A

seeking info from friends, families, reviews or experts

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13
Q

FALTA INFO DE INFO SEARCH

A
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14
Q

3 Evaluation of Alternatives

A

consumers compare different products or brands based on criteria $, quality and features

weighing PROS & CONS

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15
Q

3 Evaluation of Alternatives

Retrieval Set

A

grupo de marcas que el consumidor puede recordar easy

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16
Q

3 Evaluation of Alternatives

Evoked set

A

de ese grupo, consumer solo selecciona marcas para compra

17
Q

3 Evaluation of Alternatives

Determinant attributes

A

specific features of a produc that matter a lot

si hay opciones iguales y 1 tiene ese attribute, gana ese 1

18
Q

3 Evaluation of Alternatives

Determinant attributes categories (2)

A

rational and psychological

19
Q

Determinant attributes

Rational

A

like health benefits

un diabético obvio no va a comprar una bomba de azúcar

20
Q

Determinant attributes

Psychological

A

more about perception than functionality

tacones con suela roja o no

21
Q

3 Evaluation of Alternatives

Decision Rules (5)

A
  1. compensatory
  2. conjuctive
  3. lexicographic
  4. affect referral
  5. brand loyalty
22
Q

3 Evaluation of Alternatives

Compensatory

A

best balance of features

23
Q

3 Evaluation of Alternatives

Conjuctive

A

no bad features

24
Q

3 Evaluation of Alternatives

Lexicographic

A

scores highest on my most important feature

25
Q

3 Evaluation of Alternatives

Brand Loyalty

A

my fav. brand

26
Q

4 Purchase & Consumption

A

once a consumer has decided on a product, make it easy for them to buy it

27
Q

4 Purchase & Consumption

Conversion Rate

A

?

28
Q

4 Purchase & Consumption

How to measure Conversion Rate?

A

tracking abandoned carts

29
Q

4 Purchase & Consumption

Strategies 2 encourage customers to complete their purchases

A
  • simplifying checkout experience
  • creating urgency (últimos que quedan)
30
Q

CHECA SI SANTIAGO TIENE MÁS INFO

A
31
Q

5 Post purchase; 3 outcomes…

A
  1. customer satisfaction
  2. post purchase dissonance
  3. customer loyalty
32
Q

5 Post purchase

Customer Satisfaction

A

when expectations are met

high expectations lead 2 repeat purchases

33
Q

ojo! advertise w/high expectations because…

A

customers can feel dissapointed si nomás no jala

34
Q

ojo! advertise it too low because…

A

ni una mosca se le va a parar

35
Q

Strategies 2 ensure satisfaction

A
  • offer money-back guarantees
  • setting realistic expectations
36
Q

5 Post purchase

Post purchase dissonance

arrepentirse

A

the feeling or regret/ guilt after a purchase

37
Q

5 Post purchase

Customer Loyalty

A

when make repeat purchases from same brand

ojo que es OVERTIME

38
Q

5 Post purchase

Customer Loyalty benefit

A

loyal customers reccomend 2 others

39
Q

5 Post purchase

Customer satisfaction Formula

A

performance - expectations

MKT F24 (10 decks)

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